Qi Card (International Smart Card)Iraq’s largest issuer and acquirer and the channel for public-sector salaries and pensions. It can process transactions offline, which suits areas with poor telecom coverage.International Smart Card (ISC) (a public-private partnership with Rafidain Bank, Rasheed Bank, and the Iraqi Electronic Payment System) · since 2007About 9 million cardholders and about 3,500 employees (Wikipedia, unaudited company figures, 2022). The financial data from the same source is excluded: the equity it reports ($6.2 billion) exceeds total assets ($5.7 billion), an inconsistency that makes the figures unusable.
Global registry · Africa & Middle East · West Asia
Iraq Payment systems
4 systems listed.
This country doesn’t have a written market analysis yet: e-commerce shares, regulator, and key players are still to be documented. The systems below, however, are verified.
IBAN · Iraq
23 characters94 BIC codes
- Total length
- 23 characters
- Bank code position
- 5–8
- Branch code position
- 9–11
- BBAN structure
4!a3!n12!n
Structurally valid example
IQcountry code98check digitsNBIQbank850branch123456789012account
IQ98 NBIQ 8501 2345 6789 012
Learn about this market. The guides and courses that cover it.
Payments in East AfricaPayments in Portuguese-speaking and southern AfricaMobile money in AfricaPayments in West and Southern AfricaPayments in the CEMAC zonePayments in the Gulf and the Middle EastAccepting payments in AfricaAccepting payments in Egypt and the MaghrebAccepting payments in the GulfCollecting payments in Kenya and East AfricaCollecting payments in Nigeria and West AfricaPayments in Africa: the continent that reinvented mobile money
Card schemes
Wallets
FastPayIraqi wallet independent of the mobile operators: wallet-to-wallet transfers, mobile top-ups, bill payments (including electricity in Kurdistan through e-Psula), bank transfers, and merchant acceptance by QR code. Neither the legal name of the licensed entity nor the launch year could be established from a primary source, so those fields are left blank.FastPay (Baghdad-based electronic payment provider supervised by the Central Bank of Iraq, whose complaint form is linked in the site footer.)
Mobile money
AsiaPay (formerly AsiaHawala)Iraq’s second telecom wallet, since renamed AsiaHawala. Readers who come across the old name should know it is the same service.Asiacell
ZainCashIraq’s most widely used mobile wallet, regulated as an e-money institution by the CBI.Zain Iraq (licensed by the Central Bank of Iraq) · since 2015